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20121129
20121207
Search Results 0 to 16 of about 17 (some duplicates have been removed)
automatic tax hikes and spending cuts. president obama offered his optimism at an event with middle-class americans who'd be hit by any tax increase. >> i'm glad to see-- if you've been reading the papers lately-- - that more and more republicans in congress seem to be agreeing with this idea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. >> brown: one such lawmaker is republican house member tom cole of oklahoma. the journal "politico" reported he's urging colleagues to extend middle class tax cuts but allow tax rates for top earners to rise for now. that's what the president wants, but republican leaders have called for raising revenues by closing loopholes and capping deductions. and this morning, house speaker john boehner said he'd reinforced that position to congressman cole. >> you're not going to grow the economy if you raise tax rates on the top two rates. it'll hurt small businesses, it'll hurt our economy, it's why it's not the right approach. we're willing to
the republican was talked about obama was going to cut $716 billion so now we're in a situation where nobody wants his or her fingerprints on the medicare cuts. >> uh-huh. >> okay. the medicare cuts, i can assure you, and this is going to upset a lot of people, will appear in the negotiations. they will be-- paternity will be denied but they will miraculously appear. and i think we've got to outline what will go ahead with the deal. >> who is playing what hand, who is playing from strength here at this point. >> on this the president has the strength. no he request. first he won the election. second the polling shows that people are more likely to blame the republicans. third, if you look at the way the rules of the fiscal cliff are structured, the republicans lose big. the cuts, the sequestration, the cuts come out of defense disproportionately so they come out of republicans, so a lot of republicans said this is not a great place to wage this fight. we would rather not fight here. >> what do you think about mark's point about, his coming on-- you are he assaying he's got a strong hand but
tax cuts expire and spending cuts hit, president obama today said he's still optimistic a deal will be done and he's willing to compromise, but negotiations just aren't there yet. >> it's going to require what i talked about in the campaign, which is a balanced, responsible approach to deficit reduction that can help give businesses certainty and make sure the country grows. >> tom: the president rejected the proposal republicans presented him yesterday. it would cut the debt by $2.2 trillion over ten years, but would not raise taxes on america's highest earners, the biggest sticking point. the two sides seem to be allowing themselves room to bargain. the president said today he'd be open to lowering tax rates for high earners later next year as part of a broad tax reform package. and senate republican leader mitch mcconnell did not directly endorse the g.o.p. plan. for now, house speaker boehner put the ball in the president's court, releasing a statement: "the president now has an obligation to respond with a proposal that can pass both chambers of congress." >> susie: we tur
cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. >> they want... they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean, it's... it's... was not a serious proposal. and so, right now, we're almost nowhere. >> reporter: across the capitol, republican senate leader mitch mcconnell told the "wall street journal" his party would be willing to bring in more tax revenues if the president agreed to tighten up the eligibility requirements for entitlements. mcconnell said that could mean higher medicare premiums for the wealthy, an increase in the medicare eligibility age and slower cost-of-living increases for social security. but he ruled out higher tax rates. most democrats have ruled out all of those cuts, arguing they would undermine the nation's most successful programs. the president asked for, but it appears republicans would be unlikely to agree to gi
the people, even with the budget cut that president obama asked for of 400, almost $485 billion in 2011, even with the cuts in the army that that would have involved, the army would have still been roughly 30 or 40,000 troops bigger than it was when i became secretary in december of 2006. because i increased the size of the army by 65,000 in 2007, and then gave them an additional temporary increels of 2000 in 2008, or in 2010, rather, increels of 200,000, so i worry we think the answer is always go to be high tech, because it is cleaner, it is -- it dictates a different kind of war than we fought in iraq and afghanistan and i hope those are the kind of wars, if we have to fight, that that is what we don't have to go through what we went through in iraq and afghanistan, but i remember .. one of my favorite quotes is from general joe still well, from world war two, who basically said how a war starts, it always ends in mud. >> rose: ground forces fighting each other. >> and so you just don't know .. and because you don't know, you need to preserve flexibility. >> rose: you can't occupy with mac
john boehner also spoke to president obama on the phone last night. he said he wanted to know where the administration would rein in spending, but that he had heard nothing new. >> i was hopeful we'd see a specific plan for cutting spending. we sought to find out today what the president is really willing to do. listen, i remain hopeful that productive conversations in the days ahead can be had but the white house has to get serious. >> sreenivasan: senate minority leader mitch mcconnell echoed that complaint. in a statement, he said, "today, they took a step backward and significantly closer to the cliff." conversely, white house spokesman jay carney charged republicans failed to provide any details on what they could tolerate in the way of tax increases. >> the president has always engaged in this with real numbers. when you talk about flexibility on revenue, all we've heard so far and it's welcomed, don't get me wrong, but we've heard that yes, revenue on the table but we need more than that. >> sreenivasan: away from the microphones, there were reports of possible movement. an a
what. claims they will cut spending but they don't say how. the republican plan is actually just a smoke screen. there's nothing real there. the obama plan is a very good, very sensible plan. which as we know as very little chance of taking place in its current form. at least it's a real plan. we know what it is he's proposing to do. >> ifill: among the critics of his plan are those who say that it doesn't do anything or speak at all to the economy of entitlement reform or at least cutting the costs of entitlement. >> that's a very weird thing. it does, in fact, actually cut a substantial amount from medicare spending. it actually... of course, the affordable care act, obama care, does a lot to curb the long-run growth of medicare costs. there's actually a lot in there. he's actually done more to bring down the cost curve for medicare than anyone has ever done before. but in washington that is considered not serious if he's not actually taking been anies away from people who need them. it's a really weird they can. you inflict pain on vulnerable people. obama is very serious in t
of scaled in event of the of the 265 billion of bush tax cuts only 55 billion go to the wealthy. the other 210 billion go to the middle classment i don't think president obama wants to take that away. i can see him taking it away from the wealthy folks. but not the middle class. also, if you read president obama's book you get the sense that he not only wants to leave a legacy, he want to its leave an image of the greatest president of all time. and to do that you have to make major breakthroughs. and i lived in d.c. the only way to make major break throughs in d.c. is do what bill clinton did and reach across the table. >> susie: you know, bond the-- beyond the fiscal cliff and i know that say big issue hanging over the markets but there are also fundamentals going on as well. we got mixed reports on the economy. tom just talked about that weak data showing businesses contracting. and we're also getting warnings on weak corporate profits. so doesn't this give you pause about buying in this market right now? >> i think, i just got back from two weeks in europe speaking to portfolio manager
announces major layoffs, cutting 11,000 jobs. is this a sign of things to come in corporate america? >> tom: i'm tom hudson. president obama tries to win over top business leaders, warning republicans are holding the global economy hostage over the fiscal cliff. >> susie: and apple shares get
in order to balance spending cuts but republican leadership remains committed to extending the bush tax cuts for all a tax bracket. brainer offer his response to the president. in an interview with julianna goldman of bloomberg news obama called the boehner plan quote out of balance. >> i think that we have the potential of getting a deal done, but it's going to require what i talked about during the campaign which is a balanced responsible approach to deficit reduction that can help give businesses certainty and make sure that the country grows. and unfortunately the speaker's proposal right now is still out of balance. he talks for example about $800 billion worth of revenues but he says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> rose: and here is the president talking about why it's essential for him that there be tax increases for the most wealthy among us. >> i don't think that the issue right now has to do with sitting in a room. the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are su
Search Results 0 to 16 of about 17 (some duplicates have been removed)